MAI Capital Management Sells 767 Shares of Amgen Inc. $AMGN

MAI Capital Management lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,631 shares of the medical research company’s stock after selling 767 shares during the period. MAI Capital Management’s holdings in Amgen were worth $19,721,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in Amgen during the 1st quarter worth approximately $688,868,000. Vanguard Group Inc. increased its position in shares of Amgen by 1.6% during the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after buying an additional 841,117 shares during the period. Federated Hermes Inc. raised its stake in Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Amgen by 128.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after buying an additional 600,096 shares during the period. Finally, WoodTrust Financial Corp boosted its position in Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after acquiring an additional 588,478 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is currently owned by insiders.

Amgen Stock Performance

NASDAQ AMGN opened at $336.07 on Friday. The company has a market cap of $180.97 billion, a P/E ratio of 27.48, a PEG ratio of 2.61 and a beta of 0.45. The company has a fifty day simple moving average of $299.77 and a 200 day simple moving average of $291.91. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 2.8%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMGN. DZ Bank lifted their price objective on Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Citigroup lifted their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Cantor Fitzgerald increased their price target on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. The Goldman Sachs Group lowered their price objective on shares of Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Scotiabank began coverage on shares of Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $319.90.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.